Garuda Therapeutics, a Cambridge-based biotechnology company pioneering off-the-shelf blood stem cell therapies, has appointed Avanish Vellanki, M.B.A., as its new President and Chief Executive Officer, effective March 3, 2025. Vellanki, who also joins the company's Board of Directors, succeeds interim CEO Dr. Adam Craig.
The appointment comes at a crucial time for Garuda as it advances its innovative platform technology aimed at revolutionizing blood stem cell transplantation. The company's proprietary technology focuses on developing self-renewing, HLA compatible, and transgene-free hematopoietic stem cells (HSCs) that could be immediately available for patients.
Strategic Leadership for Platform Development
Eric Aguiar, M.D., Chairman of the Board of Directors, emphasized the strategic nature of the appointment: "Following a thorough search process, we are pleased to announce that Avanish Vellanki will lead Garuda as President and CEO. His extensive experience in building companies with an enduring focus on patients will be crucial in driving our novel hematopoietic stem cell therapy technology."
Vellanki brings over two decades of experience spanning healthcare and investment banking sectors. His track record includes co-founding and leading Rain Oncology, and playing a key role in the development of carfilzomib (Kyprolis®) for multiple myeloma patients at Onyx Pharmaceuticals. His career also includes positions at Proteolix, Aptose Biosciences, and earlier roles in healthcare investment banking at Citigroup and Bear, Stearns & Co.
Transformative Potential in Stem Cell Therapy
"The quality of the technology platform at Garuda is like nothing I have seen in my career, with the potential to eliminate the need for stem cell donors," stated Vellanki. "The opportunity for an off-the-shelf solution to reset bone marrow function is extraordinarily far-reaching."
The company's innovative approach could potentially transform treatment strategies across multiple therapeutic areas, including:
- Oncology
- Autoimmune conditions
- Rare hematological disorders
- Inborn errors of metabolism
Leadership Transition
Outgoing interim CEO Dr. Adam Craig, who will maintain his position on the Board of Directors, expressed confidence in the transition: "It has been an honor to act as interim CEO of Garuda. I am proud to hand over the reins to Avanish, who possesses the leadership and strategic vision to propel Garuda to new milestones."
The company's technology platform aims to address a critical unmet need in stem cell transplantation by developing immediately available, off-the-shelf HSC therapies that could eliminate the challenges and delays associated with donor matching. This approach could significantly improve access to potentially life-saving treatments for patients with various blood disorders.
